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Reinvestment Partners Releases New Overdraft Report

Adam Rust's picture

Posted December 17, 2015

“The Secrets of Overdraft: How Banks are Making Billions on Our Small Dollar Mistakes.” 

Using newly published federal data, I show that banks are on pace to generate more than $10 billion in overdraft fees from consumer transaction accounts.   

Consumers are unwittingly being ensnared into paying billions in overdraft fees every year, and often the reason is because their banks have designed aggressive products. These results are a  product of a system that puts the interests of banks ahead of consumers by methods that are often deceptive.

MetaBank and NetSpend Still Want Credit on Prepaid Cards

Adam Rust's picture

Posted June 16, 2014

In case you were wondering where they stood, important leaders from two of the largest companies in prepaid debit cards told an audience at last week's Power of Prepaid that their firms still want to find a way to restore credit to the prepaid card platform. They were similarly in synch in defending overdraft. 

When asked why he thinks people like prepaid cards, Dan Henry of NetSpend ("A TSYS Company") redirected the conversation

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